Avis Budget Group is a leading global provider of car rental services, offering a wide range of vehicles for both leisure and business travelers
The company operates through well-known brands, including Avis and Budget, and provides flexible rental options, from short-term rentals to long-term solutions. In addition to traditional car rentals, Avis Budget Group also offers various mobility solutions, such as car sharing and subscription services, catering to the evolving needs of consumers. With a strong emphasis on customer service and convenience, the company aims to enhance the travel experience through innovative technology and a robust network of locations worldwide.
Shares of car rental services provider Avis (NASDAQ:CAR)
jumped 21.1% in the afternoon session after shares of car rental companies rose as the 25% tariffs announced by President Trump on all vehicles imported into the US suggested new vehicles might be more expensive.
Wall Street dipped slightly on Thursday, with all major indexes edging into the red as investors digested President Donald Trump‘s latest move on auto tariffs.
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The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how ground transportation stocks fared in Q4, starting with Avis Budget Group (NASDAQ:CAR).
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Car rental services provider Avis (NASDAQ:CAR) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 2% year on year to $2.71 billion. Its GAAP loss of $55.66 per share was significantly below analysts’ consensus estimates.
Over the last six months, Avis Budget Group’s shares have sunk to $91.67, producing a disappointing 5.8% loss - a stark contrast to the S&P 500’s 12.6% gain. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
